Summary:
- DeFi Development Corp has acquired $9.9 million in Solana (SOL) tokens.
- The company’s total SOL holdings now amount to 317,273 tokens, valued at approximately $48 million.
- Acquisition made through BitGo includes discounted locked tokens.
- Rebranded from Janover, the firm has pivoted from real estate to blockchain.
- Shareholder exposure to Solana has increased by 40%, with each share representing 0.22 SOL.
- Institutional momentum around Solana is building, with major investment moves by SOL Strategies.
DeFi Development Deepens Its Commitment to Solana
In a strategic move to align more closely with the blockchain space, DeFi Development Corp (NASDAQ: JNV) has invested an additional $9.9 million in Solana (SOL). This purchase boosts the company’s total Solana holdings to 317,273 SOL, currently valued at roughly $48 million.
The acquisition was facilitated through BitGo’s over-the-counter desk, a platform known for its institutional-grade crypto services. What’s notable is that the tokens acquired are locked SOL—typically restricted due to vesting schedules or bankruptcy processes, meaning they can’t be moved on-chain immediately. However, the locked nature of these tokens enabled the company to purchase them at a discount, allowing DeFi Development to strengthen its Solana position below the going market price.
Leadership Speaks: A Vision Aligned with Blockchain
Joseph Onorati, CEO of DeFi Development Corp and a former executive at Kraken, emphasized the calculated and strategic nature of this acquisition.
“By gaining access to locked discounted inventory through a trusted partner like BitGo, we’re able to accumulate SOL while deepening our alignment with the Solana ecosystem,” Onorati said.
His statement underscores the company’s commitment to embedding itself deeper within the Solana blockchain network and expanding its digital asset treasury through trusted and strategic avenues.
From Real Estate to DeFi: A Complete Transformation
This move is not just financial—it reflects a significant corporate transformation. Formerly known as Janover, the company has recently rebranded to DeFi Development Corp, signaling a deliberate pivot away from its real estate technology roots and toward the decentralized finance (DeFi) and blockchain sector.
This rebranding came after Onorati and other former Kraken executives acquired a controlling stake in the firm. Under their leadership, the company is being repositioned as a publicly listed vehicle that gives traditional investors access to the Solana blockchain—not through tokens or exchanges, but via its balance sheet and stock performance.
More Value Per Share: A New Way to Invest in Solana
With this latest acquisition, each of DeFi Development Corp’s 1.5 million outstanding shares now represents 0.22 SOL, up 40% from previous levels. This increase means that shareholders now have a more substantial and direct stake in the performance of Solana without needing to purchase or manage cryptocurrencies themselves.
This share-backed exposure to digital assets offers a novel approach for traditional investors, who might be cautious about direct crypto ownership but still want exposure to its potential upside.
Institutional Capital Flows into Solana Ecosystem
DeFi Development’s announcement comes at a time of growing institutional interest in Solana. On the same day, SOL Strategies, led by Leah Wald, co-founder of Valkyrie Investments, revealed a $500 million convertible note facility aimed at investing in Solana infrastructure and token projects.
This significant capital injection reflects the increasing confidence institutional players have in the Solana network. As such movements continue, DeFi Development’s proactive positioning could place it at the forefront of blockchain-finance convergence.
Bridging Traditional Finance and Crypto Innovation
By aligning with Solana and structuring its shares to reflect crypto exposure, DeFi Development Corp is creating a bridge between traditional finance and emerging blockchain ecosystems. It offers investors a compliant, stock market-friendly vehicle to gain exposure to Solana, paving the way for wider adoption of blockchain assets in conventional portfolios.
With leadership that understands both the crypto and financial worlds, DeFi Development Corp is well-positioned to capitalize on the accelerating integration of decentralized technologies into mainstream investing.